AUTODESK, INC. (NASDAQ: ADSK) INVESTOR ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against Autodesk, Inc.

By: Bernstein Liebhard LLP via GlobeNewswire

June 04, 2024 at 01:45 AM EDT

NEW YORK, June 04, 2024 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP:

Do you, or did you, own shares of Autodesk, Inc. (NASDAQ: ADSK)?
Did you purchase your shares between June 1, 2023 and April 16, 2024, inclusive?
Did you lose money in your investment in Autodesk, Inc.?
Do you want to discuss your rights?

Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of Autodesk, Inc. (“Autodesk” or the “Company”) (NASDAQ: ADSK) between June 1, 2023 and April 16, 2024, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Northern District of California and alleges violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).

If you purchased or acquired Autodesk securities, and/or would like to discuss your legal rights and options please visit Autodesk, Inc. Shareholder Class Action Lawsuit or contact Investor Relations Manager Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.

According to the Complaint, Defendants failed to disclose to investors that Autodesk, Inc. lacked adequate internal controls as a result of issues with its free cash flow and non-GAAP operating margin practice.

On April 1, 2024, after the market closed, the Company announced that it was “unable to file its Annual Report on Form 10-K for the year ended January 31, 2024…within the prescribed time period, without unreasonable effort or expense.” The Company also announced that after its “earnings release on February 29, 2024, information was brought to the attention of management, which promptly informed the Audit Committee (the “Committee”) of the Board of Directors of the Company, that caused the Committee to commence an internal investigation with the assistance of outside counsel and advisors, regarding the Company’s free cash flow and non-GAAP operating margin practices.” On this news, the price of Autodesk stock fell $10.73 per share, or 4.13%, to close at $248.71 on April 2, 2024.

Then, on April 16, 2024, after the market closed, the Company revealed that it would not be able to file its 10-K within the 15-day extension period.

On this news, Autodesk’s stock price fell $13.32 per share, or 5.83%, to close at $214.92 on April 17, 2024.

If you wish to serve as lead plaintiff, you must move the Court no later than June 24, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for sixteen consecutive years.

ATTORNEY ADVERTISING. © 2024 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information:

Peter Allocco
Investor Relations Manager
Bernstein Liebhard LLP
https://www.bernlieb.com
(212) 951-2030
pallocco@bernlieb.com